Odisha To Be Manufacturing Hub For Chemicals, Petrochemical Sector: MSME Min

Amid the Make in Odisha conclave 2022, Pratap Keshari Deb, Odisha's minister of industries, micro, small and medium enterprises (MSME) and Energy on Friday said that Odisha is going to be the manufacturing hub for the Chemicals and Petrochemical sector.

While speaking in a sectoral session on investment opportunities in the chemicals, petrochemical and plastic sector of Odisha, Deb said, "We are making sincere efforts in a bid to establish Odisha as the manufacturing hub for petroleum and chemicals sector."

He also said that have government will stick to its commitment to providing all necessary benefits under our industrial policy for this sector. 

He further added that MSMEs can make a great turnover in the coming 5 years if they invest small amounts in the chemicals and petrochemical industry in Odisha. The opportunities provided by the government should be availed by all industries operating in this sector. 

This industry qualifies for best incentives. Anyone investing in this sector would be given 20 per cent capital investment subsidy which no other state can offer at this moment. 

He also announced a lucrative offering for the industrialists saying that anyone who puts up a plant in any areas of western Odisha can get 100 per cent reimbursement in SGST till such time when they are able to clear it. Initially the claim period was within 5 to 7 years but now the period is extended till 10 years to 15 years.

Talking about the Paradip, he said that it is the new global hub for fertiliser production in India. Meanwhile, Paradip is home to one of the 4 Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs) in India.